Analysts Set Valaris Limited (NYSE:VAL) Price Target at $56.83

Valaris Limited (NYSE:VAL) has received an average rating of “Reduce” from the seven brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $55.00.

Several research firms have weighed in on VAL. Citigroup raised their price target on Valaris from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. started coverage on Valaris in a research note on Friday, December 6th. They set an “underweight” rating and a $40.00 price objective on the stock. Evercore ISI cut Valaris from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $87.00 to $59.00 in a research note on Wednesday, January 15th. StockNews.com upgraded Valaris to a “sell” rating in a research note on Thursday, February 20th. Finally, Susquehanna reduced their price objective on Valaris from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st.

Valaris Stock Down 3.9 %

VAL opened at $37.11 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.59 and a quick ratio of 1.61. The business has a 50 day simple moving average of $45.21 and a 200-day simple moving average of $50.08. The stock has a market capitalization of $2.64 billion, a P/E ratio of 7.22 and a beta of 1.10. Valaris has a 12 month low of $37.04 and a 12 month high of $84.20.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.68. Valaris had a return on equity of 17.40% and a net margin of 15.81%. The firm had revenue of $584.40 million during the quarter, compared to the consensus estimate of $578.01 million. On average, equities analysts anticipate that Valaris will post 3.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valaris

A number of institutional investors have recently added to or reduced their stakes in VAL. Dimensional Fund Advisors LP lifted its position in Valaris by 55.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,300,577 shares of the company’s stock worth $101,771,000 after purchasing an additional 821,304 shares during the period. Norges Bank acquired a new stake in Valaris in the fourth quarter worth approximately $31,949,000. Condire Management LP lifted its position in Valaris by 34.1% in the fourth quarter. Condire Management LP now owns 2,618,678 shares of the company’s stock worth $115,850,000 after purchasing an additional 665,718 shares during the period. Renaissance Technologies LLC acquired a new stake in Valaris in the fourth quarter worth approximately $21,747,000. Finally, AQR Capital Management LLC lifted its position in Valaris by 942.1% in the fourth quarter. AQR Capital Management LLC now owns 381,463 shares of the company’s stock worth $16,502,000 after purchasing an additional 344,857 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.